Bitcoin price hits 11-week high as US Treasury doubles debt buyback size
Bitcoin joined US stocks in a broad rally after the US Treasury announced that it was at least doubling the amount of its debt buyback operations from September.
Bitcoin trailed the Nasdaq 100 by 68 percentage points over the past year, and it has spent the last 60 days turning that deficit into a five-point lead.
Bitcoin’s rebound toward $69,000 is gaining momentum as Geoff Kendrick points to improving liquidity conditions and a potential cycle bottom.
August 19, 2026, 4:00 pmBitcoin raced to $69,749 on Aug. 19 as falling Treasury yields and a cascade of forced short liquidations turned weeks of quiet trading into a sudden run toward $70,000. The move unfolded rapidly during late morning U.S. trading.
August 19, 2026, 3:50 pmBitcoin joined US stocks in a broad rally after the US Treasury announced that it was at least doubling the amount of its debt buyback operations from September.
Bitcoin and Ethereum surged above $69,500 and $2,000 on Wednesday after the US Treasury doubled planned buybacks of long-dated government debt. On Aug.
Wall Street institutions increased their exposure to Strategy's MSTR in the second quarter, just before Michael Saylor’s Bitcoin accumulation machine began redirecting capital toward STRC. On Aug. 18, Strategy said 12 of its 15 largest institutional shareholders increased their MSTR positions through June 30.
The U.S. Treasury will at least double the maximum size of its buybacks for older long-term bonds to $4 billion per operation, a move that helped push yields lower and supported U.S. stocks, bitcoin and gold on Wednesday morning.
Treasury doubles long-end buybacks after the 30-year yield hit 5.34%.
The proposed deal hands Metaplanet 95.7% at closing, while later capital depends on unexercised warrants and an optional preferred right.
The Bitcoin funding rate just hit its highest level in 20 months, and history says that reads as a warning. A positive funding rate means traders pay a fee to keep long positions open, so the crowd is leaning hard toward higher prices.
The Shanghai-based InsurTech firm closed a $154.7 million private placement funded entirely in crypto, with investors contributing Bitcoin directly rather than cash.
The minutes become a hawkish shock only if tightening support stretched beyond the three officials who formally dissented.